The European Commission has approved Facebook’s $19 billion purchase of the messaging service WhatsApp, despite fears the US giant social network will kill competition in the EU market.
The increasing influence of American competitors has been concerning Europe’s domestic telecom companies, which have taken a stand against the merger. European telecom operators lobbied against the idea and warned of the dangers of a behemoth creating an unfair advantage.
After its investigation the Commission found that Facebook and WhatsApp are “not close competitors” and therefore won’t eat up other telecoms’ business, the statement, released by the European Commission on Friday, said.
The competition law mandates companies that want to merge must first receive authorization from the relevant government authority, which in this case is the European Commission.
Read the Full Article: Source – Russia Today
http://rt.com/business/192888-eu-commission-eu-facebook-whatsapp/
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